Egypt's
Industrial Development Authority (IDA) on Wednesday announced plans to
supply four Egyptian steel companies that have recently obtained
steel-production licenses with 229 million cubic meters of natural gas.
“The
Abu Hashima company in Minya alone needs 109.5 million cubic meters of
gas for its production capacity of 500,000 tons of foundation steel and
500,000 tons of steel billets,” said IDA President Amr Assal.
Assal
also noted that National Steel of Upper Egypt required ten million
cubic meters to produce 70,000 tons of steel billets; Al-Marakby Steel
of 6 October City needed 54.75 million cubic meters of gas to produce
250,000 tons of foundation steel and 250,000 tons of steel billets; and
Port Said Steel needed 55 million cubic meters of gas to produce 250,000
tons of foundation steel.
“Total
steel production for the four companies stands at 1.07 million tons of
foundation steel and 1 million tons of steel billets, all of which
requires a total of 229 million cubic meters of natural gas,” he said.
Assal
also said the IDA had a further 41 million cubic meters of natural gas
set aside for steel companies that are now applying for licenses to
produce an additional 190,000 tons of steel billets.
Translated from the Arabic Edition.
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